Bank owned homes in the Traverse Bay Area

Bank Owned Homes

Although we see a limited number of bank owned homes in this area, there are some available. Almost all bank owned homes become listed and banks rarely deal directly with anyone other than a few brokerages.

Bank Owned Homes Statistics

Total Listings: 25
Average Price: $104,946
Highest Price: $265,000
Lowest Price: $22,500

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Bank Owned Homes

All Listings $100,000 - $200,000 $200,000 - $300,000
New Listings First
5 Properties Found.
Photo of Listing #1858264

5170 Vance Road


Traverse City, Michigan
4 Bed, 1½ Bath, 1256 Sqft, 0.46 Acres
Single Family

Photo of Listing #1856467

715 Meadow Drive


Traverse City, Michigan
3 Bed, 2 Bath, 2623 Sqft, 0.45 Acres
Single Family

Photo of Listing #1855635

4494 Dingman School Road


East Jordan, Michigan
3 Bed, 2 Bath, 1512 Sqft, 45 Acres
Single Family

Photo of Listing #1854235

7125 Crawford Road


Central Lake, Michigan
2 Bed, 2 Bath, 1456 Sqft, 22 Acres
Single Family

Photo of Listing #1849400

803 Forest Avenue


Frankfort, Michigan
4 Bed, 1½ Bath, 4601 Sqft, 0.17 Acres
Single Family

More information on Traverse Bay Area bank owned homes

Bank owned and repo homes in the Traverse Bay and Traverse City area can be a great deal, however, keep in mind that not all bank owned homes are deals.  Often they have been poorly maintained and if the bank gained possession of the home during the cold months, we have often seen frozen pipes.  This is not always the case and it is definitely worth considering a bank owned home.  Whether you are looking for a waterfront bank owned home, a bank owned Traverse City condo or just want to use our advanced bank owned search, TBAR Search has all the listed Traverse City bank owned homes.

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Also, here are the answers to a few bank owned home questions.

Do banks typically take much less than list price for their Traverse City area bank owned homes?

No, most often banks will have three basic appraisals  (often referred to as BPO's  - Broker Price Opinions) and will set a list price based on a those appraisals, along with other items.  Banks will then typically accept within 5% of list price, often depending on how long it has been at that price.  The banks will most often reject offers less than that, or counter back at full price.  If the asset (home) does not get an accepted offer within 45-60 days, the bank will usually reduce the price and go through the same scenario.  With that said, we have seen banks accept much less also, so it may be worth a try if it has been on the market for a while.

The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Copyright © Northern Great Lakes REALTORS® MLS. All Rights Reserved.